Together with our banking partner¹, all Anchor customers can earn up to 3.9% APY² on their US Dollar balances³ held at our banking partner.
Eligibility
All Anchor customers who are fully verified are automatically able to earn up to 3.9% APY² on their US Dollar balance³ . You can check your verification status on the Settings page of the app.
There is no minimum balance is required to obtain APY.
How is interest calculated?
Interest is calculated off your average daily US Dollar balance³ during the month. You can see your current US Dollar balance³ by going to the Portfolio page in the app.
When do I receive interest payments?
Interest is paid out on the 1st of each month. It will appear as “Interest Payment” on the Transactions page of the app.
Can I earn interest on USDC or other crypto balances?
No. Interest is only available on your US Dollar (fiat) balance³ .
We’re committed to providing transparent and competitive financial solutions for our customers, and we believe this to be an important step in helping you build your portfolio of the future.
¹ Anchor is a financial technology company, not an FDIC insured depository institution. Banking services, including deposit accounts and interest, provided by Bangor Savings Bank, Member FDIC. FDIC insurance coverage protects against the failure of an FDIC insured depository institution. Pass-through FDIC insurance coverage is subject to certain conditions.
² Annual Percentage Yield. The published APY reflects the current Interest rate, which is variable and may change. Interest is paid monthly based on your average daily balance throughout the month. APY is accurate as of February 15, 2024.
³ Interest Payments apply to US Dollar balances only. Cryptocurrency and stablecoin balances are not included.